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Carbon Emissions

Treasury written question – answered on 13th June 2011.

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Photo of Huw Irranca-Davies Huw Irranca-Davies Shadow Minister (Energy and Climate Change)

To ask the Chancellor of the Exchequer for what reason the announced final proposals on a carbon floor price differ from those modelled in his Department's consultation.

Photo of Justine Greening Justine Greening The Economic Secretary to the Treasury

The consultation asked for views on how best to implement a carbon price floor, including how the Government should determine future market prices of carbon upon which to base carbon price support rates. For illustrative purposes the consultation used the Government's long-term carbon price forecast as modelled by DECC,

The Government response to the consultation confirmed that a market-based approach would be used to determine carbon price support rates as this was the option preferred by respondents. The Finance Bill reflects this approach.

The Government's response is available online at:

http://www.hm-treasury.gov.uk/d/carbon_price_floor _consultation_govt_response.pdf

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